Swire Pacific Offshore Takes Delivery of New Vessels

Swire Pacific Offshore ("SPO") took delivery today in Qingdao, Mainland China of the last two of eight new "P" Class Anchor Handling Tug Supply ("AHTS") vessels, Pacific Python and Pacific Porpoise, built by Qingdao Qianjin Shipyard, marking the successful completion of the major part of an ongoing fleet replacement programme.

Equipped with a 150-tonne line pull winch, Pacific Python and Pacific Porpoise are IMT957 design vessels, with 5,000 brake horse power ("BHP") and a bollard pull of 64 tonnes. The versatile, fuel efficient vessels are well suited to perform a wide range of offshore support activities. The pair will be deployed to SPO's West African operations following their delivery. The delivery of these two new vessels will increase SPO's fleet size to 77 vessels, with an average age of ten years.

Mr. Neil Glenn, Managing Director of Swire Pacific Offshore, said, "The delivery today is an important milestone for us as it successfully concludes a significant order, underscoring our commitment to continuously invest in upgrading our fleet. We are happy to see the new vessels joining our specialist fleet to provide reliable and professional services to the offshore oil and gas industry. We will continue to develop our fleet to serve the future needs of the global offshore oil and gas industry, upholding our position as a leading service provider."

SPO has recently announced an order for four Havyard 844 XL design, 17,850 BHP AHTS, with scheduled delivery between mid-2013 to 2014, and four sister "D" Class vessels scheduled for delivery in 2012 and 2014. It has also recently exercised the option to acquire the second wind farm installation vessel for delivery in 2012 after it placed order for the first such vessel last year to support the construction of offshore wind farms for European utility companies.

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Pacific Python (left), together with Pacific Porpoise (right) will complement SPO's existing fleet of specialist vessels following their delivery.

About Swire Pacific Offshore
Established in 1975, Swire Pacific Offshore ("SPO") is a wholly owned subsidiary of Swire Pacific Limited. SPO is a trusted name in the Offshore Marine Industry with a reputation for operational excellence and a proactive attitude towards Health, Safety and the Environment. The Company operates a fleet of more than 75 vessels in every major oil exploration region outside of North America. By the end of 2015, the fleet size will grow to more than 100 vessels. Headquartered in Singapore, SPO and its subsidiaries have regional offices in Angola, Australia, Azerbaijan, Brazil, Brunei, Cameroon, Denmark, Equatorial Guinea, Ghana, India, Indonesia, Malaysia, New Zealand, Qatar, Philippines, Russia, Scotland and the United Arab Emirates. For more information, visit www.swire.com.sg.